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Forum Post: Lets Clear Up Some Stuff about a Debt Ceiling

Posted 1 year ago on Sept. 19, 2012, 9:52 p.m. EST by hchc (3297) from Tampa, FL
This content is user submitted and not an official statement

First off, even if we only had a military and infrastructure to pay for, the debt would have to go up every year due to an increasing population.

The reason that they put a ceiling limit on it, is so that it draws attention to what is going on, in regards to finances. Of which, ours is compeletly out of control.

The country is insolvent, as it stands now. Sure it can print whatever it wants (like that shithead Greenspan said) but there is no value in owning something that someone is actively destroying.

Defualt. This was all over the place, people screaming we were going to defualt on our debt. Do people even realize how much of the budget is used to pay debt. I think its around 3%.

Congress would have to actively choose bombs over paying our debt. I would love to see that. It would be quite interesting.

And what did we get in the end? We got the biggest credit card in the history of the planet. Goldman Sachs cashed in like they have never cashed in before.

A word on ratings agencies- they are pawns. We have since been hit again, just like every other western country. The debt ceiling debate had nothing to do with it. One ratings agency drops us a slight bit, the press use it for partisan gains, and the people fall along their lines in the sand.

The last thing Goldman Sachs, Jp MOrgan, Morgan STanley, etc want is for us as a nation to slow down and start taking a hard look at our country's finances and whats going where.

They want mindless consuming idiots that will react EXACTLY how the TV tells them to.

Another ratings drop is coming. And another. And another. Get used to it.

24 Comments

24 Comments


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[-] -1 points by hchc (3297) from Tampa, FL 1 year ago

So by that logic then there was no reason that POTUS signed NDAA on the end deadline, because the treasury has enough tools to get along for a while.

The whole thing is a mess, there is NO leadership anywhere. Just look at em. Boehner, McConnnel, Reid and Pelosi. And Obama. No leaders. Just pawns.

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[-] 0 points by hchc (3297) from Tampa, FL 1 year ago

They dont pass budgets anymore.

[-] -1 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

You're not aware that Congress did come to a deal quietly this month?

I even mentioned it on this page in a comment that you apparently didn't read because you were too busy typing a cute insult.

Did you see what you did there? You were so preoccupied with your bigotry that you forgot to concern yourself with being correct.

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[-] 0 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

Wow that actually was not quite the response that I was expecting.

This joint resolution passed on September 13, 2012: http://thomas.loc.gov/cgi-bin/bdquery/D?d112:1:./temp/~bd2gUS:@@@L&summ2=m&|/home/LegislativeData.php?n=BSS;c=112|

You called me a "fool" or a "liar" because your own Google Fu was too weak to find that?

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[-] 2 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

That was a six month extension to the current year's spending, which pushes the budget battle into next year. After the election.

This week, the Senate is expected to pass the same measure. Quietly. I'll point it out for you when it happens.

For you to still refuse to believe that it happened when I showed you the actual bill is just hilarious. Here, if you don't believe the web servers provided by Congress then maybe you'll trust a journalist:

The U.S. House of Representatives has approved a six-month stopgap government funding bill on a 329 to 91 vote, putting aside the partisan warfare of the past 18 months in bipartisan resolve to avoid a budget showdown ahead of the November election.

The Senate is expected to pass the same measure late next week, providing funding for agencies for the first six months of the fiscal year and avoiding any threat of a government shutdown when the year ends Sept. 30.

http://www.washingtonpost.com/blogs/2chambers/post/house-passes-stopgap-funding-bill-to-keep-government-open-until-after-election/2012/09/13/8d784e82-fdde-11e1-8adc-499661afe377_blog.html

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[-] -1 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

This really is getting pretty funny.

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[-] 1 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

This all started when I responded to your quote:

Unless Congress came to a deal quietly sometime this month, you two clowns [clown a; clown b] don't know what the fuck you are talking about.

I pointed out that Congress did indeed come to a deal quietly this month. Last week and this week, in fact. Everything that happened after that seems to be more about your uncontrollable urge to call me names.

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[-] -1 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

This isn't a debate. This was me simply informing you about the budget deal that's quietly happening right now that you obviously were not aware of. You posted an article about how there was going to be another standoff this year that was written in May. I updated you to current events. What happened after that was not a "debate", it was just you calling me names and me providing citations to back what I told you.

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[-] 0 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

I'll let you know when it (quietly) passes the Senate. Should be soon.

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[-] -2 points by jimmyCartersDogRambo (-28) 1 year ago

The member of Partisan Powers, zendog, shooz, DKAtoday, shadz66, and VQkag2, love to go around the forum insulting other users. That's just how they roll. Don't take it personally, they do it to everyone. Then they upvote each other to gain high scores which makes them feel like they are participating actively in OWS.

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[-] 1 points by evileye (11) 1 year ago

Here's the quote of the century on the debt ceiling:

The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America 's debt weakens us domestically and internationally. Leadership means that, "the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

~ Senator Barack H. Obama, March 2006

[-] 0 points by nobnot (529) from Kapaa, HI 1 year ago

The sky is falling. The sky is falling. The sky is falling.

[-] -2 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

People in general seem to have not really noticed that this happened, but this year the debt ceiling was raised in the same kind of routine procedure that happened every year before 2011 when the Tea Party forced the issue, leading to the Budget Control Act of 2011. This year it was a total non issue, because even the Tea Party fiscal conservative extremists realize that it would be political suicide to play brinksmanship with the economy right before an election.

I wonder why there are no Occupy extremists on Capitol Hill to counter the Tea Party extremists? No, never mind, I do know why.

[-] -1 points by podman73 (-652) 1 year ago

Yes it was kind of under the radar, what the hell right it's not their money.